This paper develops a novel market-price statistic for a sealed-offer k-double auction. The auction considered is for a homogenous product with multiple buyers and multiple sellers. The market-price statistic is developed from modeling price as a mixture of statistical distributions for buyers' prices and for sellers' prices. Ex post classical efficiency and ex ante Bayesian incentive efficiency of the method are considered. © 2005 Elsevier Ltd. All rights reserved.
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